China's trade with United States sinks amid tariff war

China exports fall again as US trade war continues

China's trade with US falls in November

Asian equity markets were a tad lower on Tuesday as investors refrained from making major bets before December 15, when the next round of US tariffs on Chinese imports is due to take effect.

Futures for the U.S. S&P500, Dow Jones and Nasdaq indexes were all down a marginal 0.1%.

Tariffs on more than $150 billion of Chinese imports could take effect on December 15 if an interim deal is not reached between the two countries. China's Customs Tariff Commission of the State Council says it will "dedicate a range of goods to be excluded from tariff countermeasures against the U.S. Section 301 measure".

U.S. nonfarm payrolls increased by 2,66,000 jobs last month, the biggest gain in 10 months, while the unemployment rate ticked back down to 3.5 per cent, its lowest level in almost half a century.

The fresh soybean sales bring China's total USA purchases for the current Sept-Aug marketing year to around 10 million tonnes, according to USDA data.

Morgan Stanley (MS) plans to cut 1,500 jobs, or about 2% of its global workforce, Bloomberg reported.

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Americans for Free Trade spokesperson Jonathan Gold says, "It's time the administration finalizes a deal with China to end the trade war and remove all tariffs".

Reducing the existing tariff rates will enable negotiators to avoid having to choose which among thousands of goods can receive relief.

Investors also kept an eye on the Federal Reserve as the central bank kicks off its last two-day monetary policy meeting of the year.

Consequently, South Korea's exports plunged 9.8 percent on-year in the January-September period, the largest margin among the world's top 10 trading nations.

A final estimate of USA productivity and labor costs in the third quarter showed productivity fell 0.2% while unit labor costs climbed 2.5%.

CHINA INFLATION: Chinese consumer inflation spiked to a seven-year high of 4.5% due to shortages of pork that pushed up food costs.

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Investors did not receive any economic data Monday.

However many European companies said they expected the trade war to be "long-lasting", and 10 per cent have already changed suppliers. The Hang Seng fell 0.22% while Japan's Nikkei-225 slipped 0.09% and China's Shanghai Composite advanced 0.1%.

Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars.

HeffX-LTN's overall technical outlook for the United States major stock market indexes is Bullish to Very Bullish in here.

Sterling, which hit its highest level against the dollar since April on Monday, inched up 0.02 per cent to buy US$1.3145 (RM5.4722).

Global benchmark Brent crude fell 0.08% to $64.20 a barrel and U.S. West Texas Intermediate crude dipped 0.05% to $58.99 a barrel.

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